Communications to the Editor--Supplement to "The Derivation of Probabilistic Information for the Evaluation of Risky Investments"
This note is intended to clarify an issue that has been raised regarding one section of a recent paper by this writer [Hillier, Frederick S. 1963. The derivation of probabilistic information for the evaluation of risky investments. Management Sci. 9 (3, April) 443-457.]. This issue concerns the proposed method for calculating the cumulative distribution function of internal rate of return. The most relevant passages from the paper follow.